Bitcoin finally broke $30K. Several assets followed the trail of this unstoppable coin. However, it was a bad day for Monero [XMR] and other privacy coins. While XRP continued its journey downhill, Monero [XMR], Zcash [ZEC], and Dash [DASH] accompanied the asset. Prominent cryptocurrency exchange, Bittrex waved goodbye to the aforementioned assets which led to the plummet of these assets. Dash was dipping by over 12% while Zcash was nosediving by 10%. Dogecoin [DOGE] was seen catching up with Bitcoin as the asset was rising up by over 43%.
At the time of writing, privacy coin Monero [XMR] was trading for $138.75 with a 15.55% drop over the last 24-hours. Back in the day, XMR was one of the top ten coins, however, several coins prevailed and XMR was left trying to most past the tenth place. The market cap of XMR was at $2.6 billion which helped the asset retain a place as the sixteenth largest coin.
Monero [XMR] One Hour Price Chart
The one-hour chart of XMR revealed that the altcoin was still dwelling in the bearish region. The volume during the recent downward breakout was seen notably high. The 50 daily moving average [blue] was above the 100 daily moving average [red] was is a bullish crossover. However, the 50 daily moving average was above the candlesticks which are considered a bearish sign.
Monero [XMR] Price Chart With Indicators
Certain indicators restored hope in the XMR market as the Bittrex announcement had caused great damage to the privacy coin. The Parabolic SAR indicator welcomed the bulls after laying out dotted lines below the candlesticks. These lines are bound to act as a barrier to any possible downward breakout. The Chaikin Money Flow indicator was seen swimming towards zero away from the bearish realm. The Awesome Oscillator yelled bulls by forming strong green closing bars. XMR could possibly reverse its downtrend and bag gains in the ongoing bull run.
